The Uttlesford Council Cabinet meeting on 18 December 2024 will include reports on the draft budget for 2025/26 and on proposals to agree to a Liability Limitation Agreement with PricewaterhouseCoopers.

Draft Budget 2025/26

The Cabinet will be asked to note the start of a consultation on the draft budget for 2025/26. The report to the Cabinet notes that

This is a draft budget for 2025/26 that will be consulted on from December 19, 2024. This budget is indicative but more provisional than in previous years due to a new Government with different priorities.

The draft budget proposes a council tax increase of 2.99%, which equates to £5.28 per year for a Band D property.

The draft budget also sets out the council's intention to raise rents for council tenants by 2.7%, in line with the Government's guidance that increases should be capped at 1% above the Consumer Price Index (CPI) measure of inflation.

PWC Liability Limitation Agreement Approval

Councillors will also be asked to approve a Liability Limitation Agreement (LLA) with PricewaterhouseCoopers (PwC) for the final year audit of Uttlesford Norse Services Limited.

The report explains that an LLA is

a contractual arrangement between a company and its external auditor that sets reasonable limits on the auditor’s financial liability in the event of audit-related claims.

The report goes on to say that such agreements are standard practice and are explicitly permitted under the Companies Act 2006.

The report to the Cabinet explains that because the council will cease to be a shareholder in UNSL in March 2025, it is particularly important to agree to the LLA with PwC, to avoid any risk of the final audit of the joint venture not being completed on time.